February 13, 2020
Newmark Grubb Zimmer (NGZ) completed the sale of a seven-building industrial and flex portfolio located near Front Street in Kansas City, MO’s Executive Park. NGZ’s Mark C. Long, and John F. Hassler represented seller Odyssey Real Estate Capital in the transaction. The sales price was not disclosed.
Totaling 210,751 square feet, the portfolio includes 17 tenants and was 89% occupied at the time of sale, representing a 28% rise in occupancy since Odyssey’s acquisition in 2017. NGZ worked on Odyssey’s behalf in leasing and property management capacities.
“The sale of this portfolio was the final step in Odyssey’s plan to acquire a strategic industrial park, provide extensive value by modernizing a number of the buildings, and then trade the park to a new owner that could leverage the centralized and well-designed real estate for many years to come,” said Hassler.
The buyer, a local investment group, did not have representation.
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